Datuk among suspects in RM400million bank loan scandal


PUTRAJAYA: A former president and CEO of a bank is among four people detained for alleged corruption.

The 49-year-old suspect, who is a Datuk, was arrested Tuesday evening by anti-corruption officers in Kuala Lumpur.

The four suspects will help Malaysia’s Anti-Corruption Commission (MACC) investigate a RM400 million financial loan scandal.

They were presented to the Magistrate’s Court here yesterday and were remanded until April 2 under article 117 of the Code of Criminal Procedure.

Sources said the four received around RM8 million in commission for approving a financial loan for a non-existent project.

“A bogus project is created in order to obtain a financial loan with internal help.

“After the loan was approved and the money disbursed, the business was closed. The project was not implemented after that, ”the source said.

We learn that the main suspect, after receiving a gratuity, accelerated the approval of the loan.

“The loan was granted without a feasibility study or due diligence. This was done without following banking procedures, ”added the source.

MACC Chief Commissioner Datuk Seri Azam Baki confirmed the arrests, claiming that investigations had been carried out under Article 16 of the MACC Law.

Source link

Leave A Reply

Your email address will not be published.